PayPal’s India technology centres have now become the nerve centre of its global product innovation, so much so that nearly 10 per cent of the American online payments firm’s 13,000 employees are techies working out of Bengaluru and Chennai.
The Indian centres have software developers, architects, user experience engineers, web developers, data analytics and project managers, he said.
PayPal makes buying and selling for merchants and customers easier, by connecting cross-border trade with financial systems, banking systems, credit card and networks globally. “We are enabling anybody to pay anybody anywhere around the world,” Barrese told BusinessLine .
PayPal operates as an acquirer, processing payments for online vendors, auction sites and commercial users for a fee. Last year, it processed nearly 4 billion payments, of which 1 billion were on mobile devices.
The company has nearly 169 million active customer accounts and has created a payments ecosystem that people and businesses choose to transact with each other online, in stores and on mobile devices.
The high growth in the e-commerce sector is creating huge opportunities for Indian businesses of all sizes, especially when it comes to cross-border trade. Increasing access to global markets for consumers has also opened up opportunities for people in India to buy products from around the globe.
To ensure that transactions are secure, engineers in India work across risk, operations, settlements, data analytics and reporting to provide digital payments solutions to customers worldwide.
Cyber security On cyber security, Barrese said that with digital payments surging in India, biometrics and near field communications are technologies to look out for in establishing a trusted and secure mobile payment eco-system. There is growing awareness on the need for better cyber security in India, said Barrese. Among other things, the Indian government’s Digital India project will focus on cyber security, which should give the space an added boost, he added.